UPDATE 3-Britain's Lloyds fined $58 mln for HBOS fraud failings [Reuters (UK)]
Lloyds Banking Group Plc American Depositary Shares (LYG)
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Source: Reuters
UPDATE 3-Britain's Lloyds fined $58 mln for HBOS fraud failings - Reuters 4 Min Read (Adds comment from victims group) * Fine for failures at HBOS arm to disclose fraud suspicions * Lloyds acquired HBOS at height of financial crisis * Some investors have criticised Lloyds’ handling of case By Huw Jones and Iain Withers LONDON, June 21 (Reuters) - Britain’s financial watchdog has fined Lloyds Banking Group 45.5 million pounds ($58 million) for failures to disclose suspicions of fraud at an HBOS branch in Reading, southern England. The fine is a further embarrassment for Lloyds as banks continue to pay for misbehaviour during the financial crisis a decade ago when Britain had to bail out several lenders. Halifax Bank of Scotland (HBOS) was involved in one of Britain’s biggest banking frauds which led to six people, including two former HBOS bankers, being jailed in 2017 for a combined 47 years. HBOS was rescued by Lloyds in a state-engineered takeover in 2009. The Financial Conduct Auth
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Sec Filings
- 4/18/24 - Form 6-K
- 4/17/24 - Form 6-K
- 4/16/24 - Form 6-K
- LYG's page on the SEC website